First Guaranty Bancshares, Inc. (NASDAQ:FGBI) Sees Significant Increase in Short Interest

First Guaranty Bancshares, Inc. (NASDAQ:FGBI) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 30,900 shares, a growth of 71.7% from the February 28th total of 18,000 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 12,400 shares, the days-to-cover ratio is currently 2.5 days.

First Guaranty Bancshares Trading Down 2.6 %

FGBI traded down $0.20 on Friday, reaching $7.55. 6,917 shares of the company’s stock were exchanged, compared to its average volume of 11,834. The company has a market cap of $94.41 million, a price-to-earnings ratio of 9.32 and a beta of 0.42. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 0.91. First Guaranty Bancshares has a twelve month low of $6.56 and a twelve month high of $15.25. The company’s 50 day moving average is $8.94 and its 200-day moving average is $10.57.

First Guaranty Bancshares (NASDAQ:FGBI) last issued its earnings results on Monday, February 3rd. The bank reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.13). First Guaranty Bancshares had a net margin of 5.04% and a return on equity of 5.62%. Equities analysts predict that First Guaranty Bancshares will post 0.89 earnings per share for the current year.

First Guaranty Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 27th will be paid a $0.01 dividend. The ex-dividend date is Thursday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.53%. First Guaranty Bancshares’s dividend payout ratio (DPR) is currently 4.94%.

Institutional Investors Weigh In On First Guaranty Bancshares

Several hedge funds have recently modified their holdings of the stock. Bridgeway Capital Management LLC grew its position in First Guaranty Bancshares by 1.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 82,497 shares of the bank’s stock valued at $937,000 after acquiring an additional 1,242 shares in the last quarter. Geode Capital Management LLC grew its holdings in First Guaranty Bancshares by 8.0% during the 3rd quarter. Geode Capital Management LLC now owns 68,788 shares of the bank’s stock valued at $733,000 after purchasing an additional 5,070 shares in the last quarter. Empowered Funds LLC increased its stake in First Guaranty Bancshares by 4.9% during the 4th quarter. Empowered Funds LLC now owns 42,306 shares of the bank’s stock worth $481,000 after buying an additional 1,968 shares during the period. LPL Financial LLC purchased a new stake in First Guaranty Bancshares during the 4th quarter worth $400,000. Finally, Northern Trust Corp lifted its holdings in First Guaranty Bancshares by 48.8% in the 4th quarter. Northern Trust Corp now owns 26,780 shares of the bank’s stock worth $304,000 after buying an additional 8,780 shares in the last quarter. 39.52% of the stock is currently owned by hedge funds and other institutional investors.

First Guaranty Bancshares Company Profile

First Guaranty Bancshares, Inc operates as the holding company for First Guaranty Bank that provides commercial banking services in Louisiana and Texas. It offers various deposit products, including personal and business checking, savings, money market, and demand accounts, as well as time deposits to consumers, small businesses, and municipalities.